Friday, May 22, 2009

Long from Value Area Low

Hi Guys,
I didn't have much time to trade today. But, here was a really nice one. One like this one is enough. We had a great long from the Value Area Low from Thursday. We also had great volume to lean on. The market gave you plenty of time to enter.

These are the ones you can be more aggressive on. There were lots of possible entries. The keys are to have your charts set up so you can see this stuff real easily and to be prepared. I knew the VAL was there and a possible trade op. I knew there was Initiated Buying from Thursday right beneath it - just like I like it. I knew that if the Footprints and the Delta Momentum supported the trade, I would jump in aggressively.

I added two additional filtered Volume Breakdown indicators (>24, >99, >199). As you know, I have had an additional VB filtered for trades >199. I added these today after seeing a chart set up with 3 VB's by a great chap named Howard in the IOAMT room today. Is three filtered VB's better than one? We'll see.

Have a great holiday weekend. I'll catch you all on Tuesday.


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